NEW YORK, May 1 — Chevron Corp today lowered its capital expenditure forecast for 2020 by another US$2 billion (RM8.6 billion) as its first-quarter revenue took a big hit from the crash in oil prices.

Its total revenue and other income fell more than 10 per cent to US$31.50 billion in the three months ended March 31.

The second largest oil producer in the United States cut its spending budget to US$14 billion, on top of the US$4 billion it slashed after the oil crash began in March. — Reuters